Nordic Business Report-January 17, 2007-Outokumpu Technology Oyj signs contract for modernisation of flash smelting production line in Russia (C)1994-2007 M2 COMMUNICATIONS LTD http://www.m2.com The Finnish minerals processing technology company Outokumpu Technology Oyj said on Wednesday (17 January) that it has signed a contract with the worlds largest nickel and PGM (platinum group metals) producer MMC Norilsk Nickel for the modernisation of a flash smelting production line at Nadezhda metallurgical plant in Norilsk, Russia. Outokumpu Technologys scope in the expansion and modernisation project includes engineering, all the equipment and materials for flash smelting furnace No. 1, as well as installation and commissioning services. The renewed line will be operational by mid-2008. The value of the contract is some EUR16m. Outokumpu Technology and Norilsk Nickel have worked in close cooperation for more than 30 years, the company said. Outokumpu Technology was de-merged from the Finnish stainless steel group Outokumpu and listed on the Helsinki Stock Exchange on 10 October 2006. The company has 1,800 employees and annual sales of EUR556m. One British pound (GBP) is worth approximately 1.49 euros (EUR). ((Comments on this story may be sent to [email protected]))